Next Evolution of the World Class Clinical Laboratory: Using a Patient-Centric Business Model to Increase Efficiency and Revenue

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Learn how medical diagnostic laboratories that transition away from the traditional accession-based business model to a client-based business model can significantly improve their revenue cycle management, increase productivity while decreasing costs, and enhance their service delivery. Process re-engineering, infrastructure investment and organizational expenses associated with such a shift in the laboratory business model are not insignificant. However, in this paper you will learn how the right approach to adopting the patient-centric model will yield a demonstrable return on investment over both the shorter and longer term, resulting in cost reduction and improved revenue collection for medical laboratories.

This paper will help you analyze how continuing with the traditional transaction-based business model presents obstacles to operational efficiency and long-term business growth and why a patient-centric approach to records management and retrieval allows clinical laboratories to position themselves to meet the challenges of tomorrow with savings generated today. In addition, this paper will demonstrate to you the importance of understanding the healthcare industry’s transition to patient-centric care and how a patient-centric healthcare model requires clinical laboratories and anatomic pathology groups to think and act differently. You will be presented with a step-by-step work plan on how to develop a patient-centric medical laboratory, including practical examples of benefits and the use of tools that enable consolidated billing, eligibility checking, and longitudinal reporting.